Despite the bear market and record dynamics of new bitcoin ATM installations around the world, Australia is now in the top three nations in the world for number of cryptocurrency ATMs. It wasn’t until early January that the Australians reached fourth place, and they have since installed 16 more ATMs.
According to Coinatmradar data, Australia now has 234 cryptocurrency ATMs, ranking it third in the world after the United States and Canada.. In three weeks it has surpassed Spain, which has 222 cryptocurrency ATMs.
It’s all a matter of dynamics: Australia implemented 99 cryptocurrency ATMswhich is almost half of its total number, in just the last three months of 2022. And don’t slow down. Since January 1, Australia has installed 16 new ATMswhile Spain has lost 4 and El Salvador, which ranks fifth in the world, has not registered a single new ATM.
Taken together, the numbers for Australia, as well as those for Spain and El Salvador, could hardly match the huge proportion of cryptocurrency ATMs in the US. The United States is home to 33,387 or 86.9% of all ATMs in the world. Along with Canada (2,556) as of this writing, they own a staggering 94.4% of all cryptocurrency ATMs..
A year-long bear market in 2022, accompanied by geopolitical tensions and global inflation, resulted in a dramatic slowdown in the installation of cryptocurrency ATMs.. Only 94 bitcoin ATMs were added between July and the end of 2022 to the global network, compared to 4,169 ATMs in the first half of 2022.
In January 2023, the Australian city of Coolangatta got its first bitcoin ATM with built-in Lightning Network capabilities. This works similar to traditional cryptocurrency ATMs, but saves a lot of time thanks to the layer 2 Lightning solution. Y also allows you to buy very small amounts of BTC.
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